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CNN Live At Daybreak

Higher Opening Expected, With A Wary Eye on Airlines and GE

Aired November 13, 2001 - 05:49   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LEON HARRIS, CNN ANCHOR: Let's get a check of the business headlines this morning for the first time.

KYRA PHILLIPS, CNN ANCHOR: David Haffenreffer checking in with us -- hi, David.

HARRIS: Hi, David.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Good morning to you both.

Well, we're certainly going to be keeping a very close eye on the airline stocks today, after falling sharply yesterday, as you might imagine. The sector is already rebounding this morning in European trading. Also, keep on eye on shares of General Electric, as the focus of the crash investigations shift to the GE engines used in the fatal American Airlines jet.

Now, right now, the stock index futures are pointing to a higher open for us today. Yesterday, Wall Street managed to recover some big losses to end the day mixed -- investors initially spooked by the airline crash. The Dow industrials fell half-a-percent on the day, a loss of 53 points, but the Nasdaq composite did manage to edge out a small gain of about 11-and-a-half points.

Among some additional stocks to watch today: Home Depot and Wal- Mart report earnings. Both are Dow components. And Vodafone reported a sharp rise in profits for the six-months ended September 30. That does not include billions of dollars of charges taken for an acquisition spree. Vodafone is the world's biggest mobile phone operator.

That's a quick look at some of the business headlines on this Tuesday morning -- Kyra and Leon, back to you.

HARRIS: David, before we let you go, I've got to ask you. I mean, were you surprised to see the way the market really kind of rallied after -- even after we found out that this plane crash that happened there in Queens was not an act, or at least at this particular point, not believed to be an act of terrorism? It's got to be a rather positive sign there to see the way the markets reacted.

HAFFENREFFER: A positive sign, it's been a very resilient market, but at the same time, a little bit morbid, if you think about it, because the market was somewhat heartened by the fact that it was not terrorism, even despite the fact that so many lives were lost in the event itself.

HARRIS: Yes, and I mean it's got to bode well for the future with what folks are thinking about the economy and its recovery -- David Haffenreffer, thanks. We'll see you in a few minutes.

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